Ford CEO Mark Fields at the press conference said, "We're no longer just an auto company, we're also a mobility company,". He made the announcement after discussing the Ford Mobility Solutions, a subsidiary of Ford which develops automated fleet driving services.

Ford will mass produce the self-driving cars and start to deliver from 2021 and does not see this as a replacement for personal transportation in five years' time. The American auto major anticipates these being used in urban environments which will act a supplement to mass transportation.

The individual car ownership will still see features of driver assist functions, however, Ford said, human will have the ultimate control of the car.

The company also announced that it will ramp its Silicon Valley operations by doubling the employee strength to over 300, including expansion of offices, and labs in Palo Alto.

Auto majors around the world are taking to the autonomous car technology with Tesla being the front runner. Self-Driving car technology is being taken seriously and every manufacturer wants to stand out in features.